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steve, great to see you. the deal being bandied about right now to raise taxes on higher earners actually doesn't appear to do anything to fix the problem, that is, all the new revenue from higher taxes would be used for more spending. as we understand about 850 billion in new revenue would be spent on eliminating the fiscal cliff automatic spending cuts and extending unemployment checks. is it true not a dial would go to cutting the real problem, the debt and deficit? >> yeah. in one scenario that is absolutely the case. we shouldn't actually be surprised. it has been clear at least for a short amount of time that this hasn't been the goal of these discussions. i mean for all the talk about deficit reduction and despite the fact that this began as an effort to rein in spending after the 2010 elections, it is clear democrats in the house and senate, i would argue the president, haven't been serious about long-term spending cuts. gregg: maybe they're not serious, you know, they see a political benefit to liter
steve, great to see you. the deal being bandied about right now to raise taxes on higher earners actually doesn't appear to do anything to fix the problem, that is, all the new revenue from higher taxes would be used for more spending. as we understand about 850 billion in new revenue would be spent on eliminating the fiscal cliff automatic spending cuts and extending unemployment checks. is it true not a dial would go to cutting the real problem, the debt and deficit? >> yeah. in one...
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Dec 26, 2012
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gregg: but, steve, bill kristol, conservative, you know what, time to throw in the towel. you do not want to get blamed for raising taxes on 98% of americans. >> right. gregg: right? >> look, bill kristol is my boss and editor at "the weekly standard" and one of most handsome and well-regarded editors in the country as everybody knows. look, i think he was making what was, in effect a practical case. there are people who are making this case behind the scenes. you have seen, he said, get it over with. move beyond this. there are others saying absolutely not. republicans can't cave on the principle of raising tacks. i think interesting thing in what happened last week that you have seen a turn, and it is first time i've seen a sliver of potential good news for the republicans and that is this. the president is now going to have to work with senate democrats and craft a proposal, some kind of short-term deal that deals mostly with the tax side of things that won't require too much republican buy-in. so if republicans want contrast, i think is a good thing for republicans to
gregg: but, steve, bill kristol, conservative, you know what, time to throw in the towel. you do not want to get blamed for raising taxes on 98% of americans. >> right. gregg: right? >> look, bill kristol is my boss and editor at "the weekly standard" and one of most handsome and well-regarded editors in the country as everybody knows. look, i think he was making what was, in effect a practical case. there are people who are making this case behind the scenes. you have...
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Dec 24, 2012
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thank you, steve. gregg? gregg: as steve mentioned jon hammar's mother made a tireless effort in recent weeks to draw attention to the case. here are more of her remarks from yesterday. >> it was like my first night that slept all night loaning without getting up and it was just, the thought of not wondering what is going on with him. can anyone hurt him tonight you know, those kind of thoughts. he is eating. he is able to have a meal. it is, i honestly can't totally process it i think until he's here. gregg: republican congresswoman ileana ros-lehtinen of florida worked with the hammars to win jon's release. she is chairman of the house foreign affairs committee. always great talking to you. thanks so much. >> thank you. gregg: jon hammar's parents says the state department was really not lifting a finger to help. in fact they were very discouraging about it. then the white house when asked just a few days ago seemed utterly owe live just didn't know anything about it and clearly wasn't do anything. you woul
thank you, steve. gregg? gregg: as steve mentioned jon hammar's mother made a tireless effort in recent weeks to draw attention to the case. here are more of her remarks from yesterday. >> it was like my first night that slept all night loaning without getting up and it was just, the thought of not wondering what is going on with him. can anyone hurt him tonight you know, those kind of thoughts. he is eating. he is able to have a meal. it is, i honestly can't totally process it i think...
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Dec 28, 2012
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patti ann: steve moore, "wall street journal." thank you. gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion cut that is being applied right now as we speak. to take another cut on top of that is devastating. >> reporter: it's not just the military itself that will take a hit, also the defense industry, defense contractors, private companies that do work for the pentagon. one democratic congressman in northern virginia whose district maybe hit the hardest by all of this says it could mean layoffs. >> the large defense contractors will probably be okay, they have significant cash reserves, most of them. the smaller c
patti ann: steve moore, "wall street journal." thank you. gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in...
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rick: you and i talk for years, steve about small businesses and the impact these bills have on folks who employ, the most americans in this country, small business owners. based on your reading of this bill, what's the impact on them? >> it is lousy. i'm glad you brought this point up. we've been having the debate whose taxes should be going up and so on. let's not forget the overall impact of this bill is very negative for the economy. means higher capital-gains taxes higher dividend taxes. higher taxes on small businesses the some of my liberal friends would say, that is only people that make over $450,000. rick, as you know, two out of three of those people in the high income category are small business owners. the overall impact is anti-business and anti-growth. the by the way only way we get the deficit down is get the economy growing again. i think congress and the white house lost sight of that. rick: for conservatives in the house of representatives sitting reading this bill right now and trying to figure out what they're going to do, as a conservative economist what would yo
rick: you and i talk for years, steve about small businesses and the impact these bills have on folks who employ, the most americans in this country, small business owners. based on your reading of this bill, what's the impact on them? >> it is lousy. i'm glad you brought this point up. we've been having the debate whose taxes should be going up and so on. let's not forget the overall impact of this bill is very negative for the economy. means higher capital-gains taxes higher dividend...